Development Opportunity @ Rear Of 52 High Street, Witney Oxfordshire OX28 6HQ

Description

Freehold former Army Cadet meeting hall just off the High Street, with full planning permission granted for demolition of the existing building and construction of two townhouses. Proposed GIA total 195 sq m (2,099 sq ft).

Accommodation

Proposed GIA total 195 Sq M | 2099 Sq Ft. Ground Floor: Open Plan Kitchen Living Area with Dining Room. First Floor: Bedroom 1, Bedroom 2, Bathroom. Second Floor: Study, Storage. Existing building circa 104.6 Sq M | 1126 Sq Ft.

Location

Situated just off the High Street, accessed via a walkway, in Witney, a market town with shopping, leisure, retail, cinema, pubs and restaurants. The A40 provides a road link to Oxford to the east and Cheltenham to the west. A main line station with a fast London service is at nearby Long Hanborough about five miles away.

Tenure / Property Information

Investment Analysis

Freehold development site with full planning permission for demolition of the existing circa 104.6 sq m former Army Cadet meeting hall and construction of two townhouses with proposed total GIA of 195 sq m. The supplied sold evidence comprises two properties categorised as Other, including one at the same address, but does not provide sufficiently specific completed-sale evidence to establish a GDV for the proposed townhouses. No refurbishment/build cost, professional fee, finance, selling-cost or rental evidence is supplied. The £175,000 guide plus the £1,800 including VAT buyer premium is the only supported acquisition pricing information.

Investment Snapshot

Strategy Recommendation

Treat as a planning-led development opportunity requiring full appraisal before bidding. Obtain the planning documents, build-cost tender, service and access information, parking position and evidence of end values before committing.

Works Required

Demolish the existing former Army Cadet meeting hall and construct the two townhouses in accordance with the full planning permission. The proposed accommodation is stated as 195 sq m total GIA, including open-plan kitchen/living and dining space, bedrooms, bathroom, study and storage. Planning-condition compliance, access, services, construction specification and any parking arrangement require due diligence.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

A BRRR assessment cannot be quantified. The guide is £175,000 and the buyer premium is £1,800 including VAT, but no supported construction budget, GDV or completed-unit rent is available. Refinance proceeds and cash left in are therefore unsupported.

Buy-to-Let Analysis

BTL analysis cannot be quantified because no sufficiently specific rental comparable or auctioneer rent estimate is supplied. The evidence describes a planned two-townhouse development rather than completed lettable units, so achievable rent and operating costs remain unconfirmed.

Flip Analysis

A flip assessment cannot be quantified because no evidence-supported GDV, construction cost, professional cost, finance cost or selling allowance is supplied. The two sold comparables are categorised as Other and are not sufficiently specific to value the proposed townhouses.

Investor Risks & Due Diligence

• No sufficiently specific evidence supports the end value of the two proposed townhouses.

• Construction, professional, finance and selling costs are not supplied, preventing a reliable total-cost or maximum-bid calculation.

• The site is accessed via a walkway, and the extent and cost of access arrangements require investigation.

• Parking is not confirmed; land in front is owned by the Local Authority and any private parking use would require negotiation.

• Planning-condition compliance, demolition requirements, services and construction feasibility require due diligence.

• The £6,800 security deposit is required to register to bid and the £1,800 including VAT buyer premium is payable on exchange.

Recommendation

Treat as a planning-led development opportunity requiring full appraisal before bidding. Obtain the planning documents, build-cost tender, service and access information, parking position and evidence of end values before committing.

Strategy Rating

Analysis Confidence

Planning status, proposed floor area, tenure, guide and buyer premium are supplied, but there is no sufficiently specific GDV evidence, rental evidence, construction budget or project-cost information.